Alphabet Inc. $GOOG Shares Sold by Mirabaud & Cie SA

Key Points

• Mirabaud & Cie SA has reduced its holdings in Alphabet Inc. ($GOOG) by 2.8%, now owning 85,409 shares valued at approximately $15.15 million.
• Several large investors, including GK Wealth Management and Park Edge Advisors, have increased their stakes in Alphabet during the 2nd quarter, indicating growing confidence in the company.
• Alphabet recently announced a quarterly dividend of $0.21, yielding 0.3%, with a payout ratio of 8.95%.

Mirabaud & Cie SA decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,409 shares of the information services provider's stock after selling 2,500 shares during the period. Alphabet comprises approximately 4.8% of Mirabaud & Cie SA's holdings, making the stock its 6th largest holding. Mirabaud & Cie SA's holdings in Alphabet were worth $15,151,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. GK Wealth Management LLC raised its holdings in Alphabet by 8.1% in the 2nd quarter. GK Wealth Management LLC now owns 4,340 shares of the information services provider's stock valued at $770,000 after acquiring an additional 324 shares in the last quarter. Parallel Advisors LLC raised its holdings in Alphabet by 2.5% in the 2nd quarter. Parallel Advisors LLC now owns 347,731 shares of the information services provider's stock valued at $61,684,000 after acquiring an additional 8,646 shares in the last quarter. O Connor Financial Group LLC raised its holdings in Alphabet by 9.3% in the 2nd quarter. O Connor Financial Group LLC now owns 1,572 shares of the information services provider's stock valued at $284,000 after acquiring an additional 134 shares in the last quarter. Investors Research Corp raised its holdings in Alphabet by 2.6% in the 2nd quarter. Investors Research Corp now owns 2,938 shares of the information services provider's stock valued at $521,000 after acquiring an additional 75 shares in the last quarter. Finally, Park Edge Advisors LLC raised its holdings in Alphabet by 20.1% in the 2nd quarter. Park Edge Advisors LLC now owns 8,580 shares of the information services provider's stock valued at $1,522,000 after acquiring an additional 1,438 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Oppenheimer reiterated an "outperform" rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Finally, Scotiabank upped their price objective on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $227.56.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,710 shares of company stock worth $49,208,380. Company insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.2%

NASDAQ:GOOG opened at $241.38 on Monday. The stock's fifty day moving average price is $202.67 and its two-hundred day moving average price is $178.92. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $242.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.92 trillion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue was up 13.8% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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